Member of the reality-based community of progressive (not anonymous) Massachusetts blogs
I’d like to give a shout out to all my tea partying pals. I hope you told the birthers to go pound sand.
Former Fed Chairman Alan Greenspan is stepping up his call for Congress to let the Bush-era tax cuts lapse.
In an appearance Sunday on ABC’s “Meet the Press,” Mr. Greenspan used his strongest words yet to urge lawmakers to let them expire. The risk of a U.S. debt crisis, he said, is just too big. Mr. Greenspan, who retired from the Federal Reserve in 2006, had endorsed the cuts back in 2001 championed by then-President George W. Bush.
“This crisis is so imminent and so difficult that I think we have to allow the so-called Bush tax cuts all to expire. That is a very big number,” he said, referring to how much the U.S. government could save from letting income taxes go back up to levels last seen under former President Bill Clinton. -snip
Of course, we know that POTUS will poo poo this to some degree ’cause he has his very own ‘read my lips’-esque campaign speak that draws a line at $250,000+/-. So, there is that.
Data, being ambivalent, only offers this guidance: Top 1% pay 28% of federal income taxes, and earn 23% of all income.
And finally, where is the rally that squawks about the $880/month I’m dolling out for crappy health insurance we can’t afford to use? Can I see a single payer plan that would spike my taxes by $5000? I’d be saving money then.
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